Friday 23 October 2026 Export KEYS’s income statement to Excel — free account

Keysight Technologies Inc.

KEYS Technology Scientific & Technical Instruments

Keysight Technologies Inc.’s revenue for fiscal 2025 (year ended October 2025) was $5.4 billion, up 7.95% from fiscal 2024. In the quarter to July 2026, revenue grew 36.5%, EPS grew 109.9%, free cash flow grew 40.2% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500.

313.93 2.41 +0.77%

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Market cap: $53.0B
P/E: 42.7×
Fwd P/E: 38.8×
Dividend yield: —
F-score: 5/9
Altman Z: 5.36
Beneish M: −2.57
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 33.60

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	9	—	2	6	—	—	3	—	2	4	—

Insider Ownership 1.23%

Capital & Financial Ratios $m

Market Cap 53,030.00

Revenue 6,582.00

Net Income 1,260.00

Free Cash Flow 1,492.00

Net Debt (88.00)

Current Ratio 2.02

Debt/Equity 0.38

P/E ratio 42.71

Fwd P/E 38.80

P/S ratio 8.16

P/B ratio 8.17

Past 5Y EPS Growth 8.12%

This Y EPS Growth 60.03%

Next Y EPS Growth 20.16%

Next Y revenue growth 32.37%

Next 5Y EPS Growth 29.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 67.55%

10-year low 10-year high

P/S against its own 10 years 93.93%

10-year low 10-year high

P/B against its own 10 years 89.70%

10-year low 10-year high

EV/Sales against its own 10 years 93.93%

10-year low 10-year high

EV/FCF against its own 10 years 88.19%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,472	1,796	1,873	2,605
Receivables	900	857	939	1,067
Inventory	985	1,022	1,050	1,047
Other	452	582	486	567
	4,809	4,257	4,348	5,286

	2023	2024	2025	Q'26
Payables	286	313	355	424
ST’ Debt	599	—	—	700
Other	304	295	399	379
	2,049	1,427	1,850	2,612

Compound Annual Growth %

	10y	5y	3y
Sales	6.53%	4.95%	(0.28%)
Cash Flow	14.12%	6.76%	7.19%
Earnings	5.18%	6.27%	(8.89%)
Book Value	16.27%	12.27%	12.22%

Revenue $m

	Jan	Apr	Jul	Oct	Year
’26	1,600	1,717	1,846	—	—
’25	1,298	1,306	1,352	1,419	5,375
’24	1,259	1,216	1,217	1,287	4,979
’23	1,381	1,390	1,382	1,311	5,464
’22	1,250	1,351	1,376	1,443	5,420
’21	1,180	1,221	1,246	1,294	4,941
’20	1,095	895	1,011	1,220	4,221

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jan	Apr	Jul	Oct	Year
’26	441	501	437	—	—
’25	378	484	322	225	1,409
’24	328	110	255	359	1,052
’23	366	423	241	378	1,408
’22	224	298	224	398	1,144
’21	295	402	257	368	1,322
’20	197	298	183	338	1,016

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jan	Apr	Jul	Oct	Year
’26	407	489	408	—	—
’25	346	457	291	188	1,282
’24	281	74	222	328	905
’23	306	370	196	340	1,212
’22	182	245	192	340	959
’21	267	369	217	295	1,148
’20	165	275	151	308	899

Fiscal quarters ending in the months shown.

EPS $

	Jan	Apr	Jul	Oct	Year
’26	1.63	2.02	2.30	—	—
’25	0.97	1.49	1.10	1.33	4.89
’24	0.98	0.72	2.22	(0.42)	3.51
’23	1.45	1.58	1.61	1.28	5.91
’22	1.24	1.41	1.87	1.66	6.18
’21	0.92	0.99	1.36	1.52	4.78
’20	0.86	0.37	0.93	1.15	3.31

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	21.07	35.05	41.60	58.24	77.93	129.09	127.93	118.57	119.72	121.43		+21.5%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	38.28	45.65	70.40	110.00	132.62	209.08	207.22	189.32	175.39	214.58		+21.1%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	10,300	12,600	12,900	13,600	13,900	14,300	15,000	14,900	15,500	16,800		+5.6%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.28	0.25	0.30	0.32	0.30	0.35	0.36	0.37	0.32	0.32		+1.4%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	2,918	3,189	3,878	4,303	4,221	4,941	5,420	5,464	4,979	5,375		+7.0%	7,115	8,210	8,948	+18.5%
	Gross margin, %	55.65	53.21	54.44	58.89	60.01	62.11	63.65	64.64	62.92	62.08		+6.4 pt	Powerpack Keysight Technologies Inc.’s next three years, line by line Analysts expect revenue to grow 18.5% a year to 2028 — faster than the 7.0% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	366	179	(411)	715	761	1,010	1,285	1,357	865	1,082		+12.8%
	EBT margin, %	12.54	5.61	(10.60)	16.62	18.03	20.44	23.71	24.84	17.37	20.13		+7.6 pt
	Net income	335	102	165	621	627	894	1,124	1,057	614	850		+10.9%
	Depreciation	134	225	1,019	308	326	293	223	212	270	276		+8.4%
Per share, $
Per share, $	Revenue	17.16	17.72	20.74	22.89	22.57	26.71	30.11	30.70	28.61	31.25		+6.9%
	Earnings	1.97	0.57	0.88	3.31	3.35	4.84	6.23	5.95	3.53	4.91		+10.7%
	Cash flow	2.47	1.82	2.97	5.31	5.43	7.15	6.36	7.91	6.05	8.19		+14.2%
	Capex	(0.54)	(0.40)	(0.55)	(0.64)	(0.63)	(0.94)	(1.03)	(1.10)	(0.84)	(0.74)		+3.6%
	Free cash flow	1.94	1.42	2.42	4.67	4.81	6.21	5.33	6.81	5.20	7.45		+16.2%
	Book value	8.90	12.83	13.01	15.98	17.63	20.45	23.12	26.15	29.34	34.19		+16.1%
	Shares, m	170	180	187	188	187	185	180	178	174	172		+0.1%
Valuation, ×
Valuation, ×	P/E	16.65	72.05	65.61	30.49	31.17	37.25	27.95	20.51	42.33	37.26		38.1
	P/S	1.91	2.52	2.75	4.41	4.64	6.78	5.78	3.98	5.21	5.85		4.4
	P/B	3.69	3.48	4.39	6.32	5.94	8.85	7.53	4.67	5.08	5.35		5.5
	EV/Sales	2.02	2.91	2.98	4.57	4.66	6.73	5.74	3.85	5.33	6.09		4.5
	EV/FCF	17.89	36.21	25.56	22.39	21.87	28.98	32.47	17.37	29.31	25.53		25.8
Cash, $m
Cash, $m	Operating cash flow	420	328	555	998	1,016	1,322	1,144	1,408	1,052	1,409		+14.4%
	Capex	(91)	(72)	(103)	(120)	(117)	(174)	(185)	(196)	(147)	(127)		+3.8%
	Free cash flow	329	256	452	878	899	1,148	959	1,212	905	1,282		+16.3%
Balance, $m
Balance, $m	Working capital	1,210	1,358	916	2,212	2,293	2,525	2,827	2,760	2,830	2,498		+8.4%
	Total debt	1,093	2,048	1,790	1,788	1,832	1,832	1,832	1,794	1,790	2,534		+9.8%
	Net debt	310	1,230	877	190	76	(220)	(210)	(678)	(6)	661		+8.8%
	Shareholders’ equity	1,513	2,310	2,433	3,004	3,297	3,784	4,161	4,654	5,105	5,881		+16.3%
Returns, %
Returns, %	ROA	9.17	2.10	2.81	9.98	9.06	11.92	14.16	12.60	6.84	8.26		(0.9) pt
	ROIC	13.92	2.61	(7.44)	13.91	14.18	18.94	21.10	21.35	10.21	8.37		(5.5) pt
	ROE	23.80	5.34	6.96	22.84	19.90	25.25	28.29	23.98	12.58	15.47		(8.3) pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Oct 2025 · latest quarter Jul 2026

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.46 Actual 3.07

1.62 2.11 2.61 3.10 3.59

Q4 FY25 Beat +0.06

Q1 FY26 Beat +0.18

Q2 FY26 Beat +0.54

Q3 FY26 Beat +0.61

Q4 FY26 — Nov 23

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	1.85	1.91	Beat by 0.06
Q1 FY26	1.99	2.17	Beat by 0.18
Q2 FY26	2.33	2.87	Beat by 0.54
Q3 FY26	2.46	3.07	Beat by 0.61
Q4 FY26	3.36	—	Reports 23 November 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GRMN Garmin Ltd.	$57.0B	30.2×	28.2×	+11.44% (above 0%: growing)	+35.10% (above 0%: growing)	+116.30% (above 0%: growing)	62.41%	30.44%	Compare
KEYS Keysight Technologies Inc.	$53.0B	42.7×	38.8×	+36.54% (above 0%: growing)	+109.91% (above 0%: growing)	+40.21% (above 0%: growing)	65.87%	24.97%
COHR Coherent Corp.	$40.9B	48.1×	31.5×	+33.74% (above 0%: growing)	n/m	−45,512.10% (below 0%: shrinking)	38.48%	14.58%	Compare
TDY Teledyne Technologies Incorporated	$28.8B	30.2×	29.5×	+9.83% (above 0%: growing)	+21.22% (above 0%: growing)	+45.03% (above 0%: growing)	44.40%	20.04%	Compare
FTV Fortive Corporation	$18.1B	35.1×	28.8×	+7.91% (above 0%: growing)	+6.12% (above 0%: growing)	−9.82% (below 0%: shrinking)	63.39%	19.14%	Compare
TRMB Trimble Inc.	$14.9B	— (loss-making)	— (loss-making)	+11.00% (above 0%: growing)	n/m	+492.59% (above 0%: growing)	69.43%	13.58%	Compare
MKSI MKS Inc.	$13.3B	30.1×	22.8×	+28.26% (above 0%: growing)	+181.52% (above 0%: growing)	+38.97% (above 0%: growing)	47.68%	20.11%	Compare
CGNX Cognex Corporation	$9.2B	52.9×	33.2×	+16.93% (above 0%: growing)	+79.17% (above 0%: growing)	+67.25% (above 0%: growing)	70.65%	29.36%	Compare
ESE ESCO Technologies Inc.	$7.2B	19.1×	42.9×	+14.40% (above 0%: growing)	+24.75% (above 0%: growing)	−22.12% (below 0%: shrinking)	41.74%	14.80%	Compare
Median of peers	$16.5B	30.2×	29.5×	+12.92%	+29.93%	+42.00%	55.05%	19.59%

All 34 Scientific & Technical Instruments stocks →